June 13, 2018 / 6:53 AM / 5 months ago

MEDIA-SocGen to sell Belgian private banking unit - L'echo

** France’s third-biggest bank is exploring a sale of its private banking unit in Belgium, L’echo reports, citing several unnamed sources

** Possible buyers include Degroof Petercam, Puilaetco Dewaay, Credit Agricole’s Indosuez or Banque Transatlantique

** European private banking sector is undergoing a consolidation, as smaller players face pressure on profitability from rising regulatory costs

** SocGen bought the Belgian private banking business, la banque De Martelaere, in 2001 for 78 million euros ($91.57 million), according to L’echo

** SocGen did not immediately reply to a request for comment

Note: Reuters has not verified this story and does not vouch for its accuracy

Further company coverage: ($1 = 0.8518 euros) (Reporting by Paris Newsroom, editing by Louise Heavens)

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